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Stephen Mandel Lone Pine Capital

AUM $16.4B
1-Year Est. Return 99.7%
 

Stephen Mandel founded Lone Pine Capital, a long/short equity firm that became one of the most influential Tiger Cub franchises. Lone Pine is known for fundamental research and growth-oriented equity investing with risk management through shorting and portfolio construction. Even as the firm’s structure has evolved over time, Mandel’s name remains closely associated with institutional growth investing.

This Fund
S&P 500
This Quarter Est. Return
+17.85%
1 Year Est. Return
+99.7%
3 Year Est. Return
+351.82%
5 Year Est. Return
+339.1%
10 Year Est. Return
+2,106.14%
AUM
$18.9B
AUM Growth
+$1.86B
Cap. Flow
-$668M
Cap. Flow %
-3.54%
Top 10 Hldgs %
47.23%
Holding
51
New
14
Increased
12
Reduced
14
Closed
8

Top Buys

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$351M
2
META icon
Meta Platforms (Facebook)
META
+$286M
3
MTCH icon
Match Group
MTCH
+$221M
4
MA icon
Mastercard
MA
+$220M
5
MELI icon
Mercado Libre
MELI
+$216M

Top Sells

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$595M
2
TIF
Tiffany & Co.
TIF
+$591M
3
SPGI icon
S&P Global
SPGI
+$422M
4
BKNG icon
Booking.com
BKNG
+$415M
5
WWE
World Wrestling Entertainment
WWE
+$211M

Sector Composition

Rank Sector Weight
1 Technology 29.31%
2 Consumer Discretionary 22.59%
3 Industrials 15.06%
4 Healthcare 14.14%
5 Communication Services 9.97%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ATVI
51
DELISTED
Activision Blizzard
ATVI
– –
-11,244,387
Closed -$595M
1 2
3

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Stephen Mandel's Q4 2019 Portfolio in Review

As of Q4 2019, Stephen Mandel held 51 positions worth $18.9B, up 11% from $17B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Stephen Mandel withdrew a net $668M in Q4 2019, closing 8 positions and reducing 14 holdings. Its most notable exit was Activision Blizzard, an estimated $595M position sold in full.

By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 34% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Stephen Mandel opened a new position in PayPal worth $364M.

  • Stephen Mandel's largest Q4 2019 buy was PayPal: 3,364,320 shares worth $364M.
  • Stephen Mandel added most to Meta Platforms (Facebook) in Q4 2019, an estimated $286M increase.
  • Stephen Mandel's biggest Q4 2019 reduction was Adobe, cutting an estimated $208M.
  • Stephen Mandel fully exited Activision Blizzard in Q4 2019, selling an estimated $595M.
  • Stephen Mandel's ten largest holdings make up 47% of its $18.9B portfolio in Q4 2019.
  • Stephen Mandel opened 14 new positions and closed 8 in Q4 2019.
  • Stephen Mandel's portfolio value rose 11% quarter-over-quarter to $18.9B.

Based on Lone Pine Capital's 13F filing for Q4 2019, filed 14 Feb 2020.